Tough to meet $200 mn export target this year

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Tough to meet $200 mn export target this yearNE Exporters has to take challenges: DGFT

With the government imposing restrictions on exports of items like non-basmati rice, cement and steel, it would be difficult to meet the export target of USD 200 million this year, a senior official said on Saturday.

"Although we have put a export target of $200 billion and even in the first month there was 33 per cent growth in the export but in the month of May it was much lower, primarily due to restrictions imposed on the export of some items including non-basmati rice, cement, maize and steel," Director General of Foreign Trade R S Gujral told the media.

In case of steel, he said this year not only a duty was put on the export of the commodity, but export incentives were also withdrawn to control the rise in prices in the domestic market.

However, as a long-time target of export, it has been expected that by the fiscal 2020, India would achieve export worth five per cent of the total world trade in goods and services sector, against 1.47 per cent at present, he said.

Asked about the Indo-Pak trade, Gujral said that efforts were being made by the government to increase the volume of trade and during recent times significant rise in the import of cement was noticed from Pakistan, which enabled to control its surging prices here, especially in Punjab.